Seagate Tech invites ValueAct in as major shareholder

10 September, 2016

The stock exchanged hands with 9.48 million shares contrast to its average daily volume of 4.33 million shares.

The team rates Seagate Technology as a Hold with a ratings score of C. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Seagate Technology. has a 52-week low of 18.42 and a 52-week high of 50.91.

Seagate Technology PLC has 298,609,000 shares in issue which have a share price of 36.4 giving Seagate Technology PLC a market capitalisation of 10.87B United States dollars.

Friday bloom on Seagate Technology plc (NASDAQ:STX) [Trend Analysis], stock moved down around -0.55% in early session as its gaining volume of 4.74 Million. The company's institutional ownership is monitored at 89.6%. (STX) based on 21 analyst recommendation on the company stock is 2.86, which is interpreted as a Hold recommendation. The one year target price is $27.84 with four firms rating the stock a strong buy, four firms rating the stock a buy, 20 analysts rating the stock a hold, three brokerages rating the company to underperform, and finally one analyst rating the stock as sell. The median estimate represents a 49.21% increase from the last price of 157.50.

Current Quarter Estimate Trends: Presently, Analysts estimated consensus EPS estimate of $0.77 for current quarter and one month ago projected EPS estimate was at seen $0.77. The reported numbers came lower than the analysts' estimates of $0.6, demonstrating a miss of $0.09 as against reported figures. Recently, analysts have updated the mean rating to 2.8. There are now 303,451,061 shares in issue with the average daily volume traded being 4,331,973. If the stock is trading higher than the moving average, the average may provide a level of support. The shares were sold at an average price of $32.50, for a total value of $100,165.00. During the same period a year ago, the company earned $0.77 earnings per share.

Latest analyst recommendations could offer little help to investors.

Over a period of 12 months, 17 brokerage firms have analysed and allotted ratings to Seagate Technology.

The ValueAct position that has gained the most attention in the previous year has been a longtime holding in Valeant Pharmaceuticals International Inc, whose shares have plunged almost 90 percent since it was embroiled in a scandal involving its accounting practices.

The liquidity measure in recent quarter results of the company was recorded 1.30 as current ratio, on the other side the debt to equity ratio was 0.58, and long-term debt to equity ratio remained 0.58. Following the completion of the transaction, the senior vice president now owns 65,520 shares of the company's stock, valued at approximately $2,086,156.80.

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